Guide Looks at Impact of State Farm Pullout Move

Home Insurance Buyers Guide LLC (www.homeinsurancebuyers.org) has released the first look at the profile of State Farm Florida Insurance customers affected by last week's announcement. The company offers a searchable database where homeowners can find, screen, and contact Florida home insurance companies still writing new business.

"We're the only organization collecting real time data directly from consumers as they respond to cancellations and overpriced, hard to find Florida home insurance," said company President Michael Letcher.

"As State Farm Florida customers in 32 Florida counties began their scramble to find private Florida home insurance after last week's announcement and subscribed to our service, they provided a rare, inside look at what the Florida home insurance market will face as it attempts to absorb hundreds of thousands of policy cancellations," Letcher added.

Not all the news is good:

-- These long-time customers remained loyal to the end, giving State Farm Florida an average satisfaction rating of '6.0' on a scale of '1-10' despite the announcement.

-- The average policy expiration date was 7/6/09 as these experienced Florida homeowners insurance consumers wasted little time in starting their search for a new company.

Many of these homes have features that will reportedly dramatically increase the chances that they will end up in Citizens Property Insurance Corporation or be only temporarily accepted by a private company:

-- The average year of construction was 1981, with many built between 1950 and 1970. 72.1% of the homes were built prior to 1995 before the stronger building codes.

-- 72.9 % of these homes do not have hurricane shutters.